In a highly orchestrated maneuver, the deployer of the Wall Street Baby ($WSB) token managed to pocket nearly 5,000 SOL, equivalent to $810,000, in just one hour through a strategy of sniping and dumping the newly deployed tokens.
The deployer initiated the process by deploying 1 billion $WSB tokens. Of these, 600 million $WSB tokens, along with 400 SOL, were added to the liquidity pool, leaving the deployer with 400 million $WSB tokens.
Before trading began, the deployer set up 32 separate wallets, distributing a total of 643 SOL among them. At the launch of trading, these wallets successfully sniped 362 million $WSB tokens, which represented 36.2% of the total supply.
The deployer of #WallStreetBaby has made nearly 5K $SOL($810K) in just 1 hour by sniping and dumping $WSB!
Amazing gains!
The deployer deployed 1B $WSB, adding 600M $WSB and 400 $SOL to liquidity, leaving 400M $WSB.
Before opening trading, the deployer created 32 wallets and… pic.twitter.com/09wa9A0ah0
— Lookonchain (@lookonchain) May 16, 2024
$WSB Developer Makes Massive Gains Selling Off Tokens
In a rapid series of transactions, the deployer then sold these 362 million $WSB tokens, earning 4,371 SOL, approximately $708,000.
The deployer didn’t stop there. The remaining 400 million $WSB tokens were distributed across more than 100 additional wallets. From these, 210 million $WSB tokens were sold for 1,250 SOL, roughly $202,000. The fate of the remaining 190 million $WSB tokens remains uncertain and harder to track.
Through this meticulously planned and executed strategy, the deployer has successfully earned nearly 5,000 SOL, totaling approximately $810,000.
This incident highlights the potential for significant gains through strategic token sniping and dumping, but it also underscores the risks and volatility inherent in the cryptocurrency market. As always, investors should approach new token launches with caution and remain vigilant against such market manipulations.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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